innovationinbanking

  PFRDA booster for UPI Transactions   PFRDA is regulating authority for National Pension Scheme. Subscribers in NPS are Government of India employees, State Government employees and employees of private institutions/organizations & unorganized sectors. The contributory pension system was notified by the Government of India on 22nd December, 2003, now named the National Pension System (NPS) with effect from the 1st January, 2004. National Pension System (NPS) is a defined contribution pension scheme. NPS enables an individual to undertake retirement planning while in employment. With systematic savings and investments, NPS facilitates accumulation of a pension corpus during their working life. NPS is designed to deliver sustainable solution of having adequate retirement income at old age or upon superannuation. NPS is mandatory for Central Government employees joining services on or after 1st January 2004 and has been adopted by almost all the State Governmen...

  Customers can directly lodge ATM Transactions Complaints on NPCI Website           Our country has more than 2,52,000/- ATMs spread across States and Union Territories.           Multiple cash withdrawals happen at the ATMs during the daytime. After sunset, the cash withdrawals volumes slow down.           Majority of saving bank account holders will be familiar with ATMs, and the whirring sound of cash being dispensed.           The UPI magic has somewhat reduced the need for account holders to visit ATMs to access their bank balance.           ATMs are designed to carry out perform financial as well as non-financial transactions.           Financial Transactions – Cash Withdrawal / Cash Deposit / Fund...

  Safe ePayments @ IIBF’s Banking Chanakya           The sponsors of Banking Chanakya 2022 are State Bank of India, Canara Bank and Karnataka Bank           The prizes are as below: National Final Winner – 1,00,000/- National Final Runner Up – 75,000/-   The TOP 3 teams at the Zonal Semi Final Level from each zone will be awarded Cash Prizes as under: Zonal Semi Final Winner – 25,000/- Zonal Semi Final 1 st Runner Up – 15,000/- Zonal Semi Final 2 nd Runner Up – 10,000/-   The TOP 3 teams at the Quarter Final Level from each zone will be awarded Cash Prizes as under: Zonal Quarter Final Winner – 5,000/- Zonal Quarter Final 1 st Runner up – 2,000/- Zonal Quarter Final 2 nd Runner up – 1,000/-   Karnataka govt partners with NPCI and SBI for enabling and implementing e-RUPI @ https://www.thehindubusinessline.com/money-and-banking/karnataka-govt-pa...

Safe ePayments @ Bengaluru Lalbagh Flower Show              The legendary Lalbagh flower show is back to wow Bengalureans and visitors to Bangalore in the first two weeks of August 2022           As per initial estimates, 15 lac visitors are expected to visit the 212 th Edition of Bengaluru Lalbagh Flower Show           Yes, 15 lacs visitors in 11 days, the numbers considerably go up on holidays           7 th August is a holiday           9 th August is a holiday           13 th August is a holiday for bank employees           14 th August is a holiday           15 th August is a holiday      ...

  Kotak UPI to debut in Kaun Banega Crorepati @ Season 14           The below press release got my attention. Kotak Mahindra Bank Announces its Association with –Sony TV’s Kaun Banega Crorepati – Season 14 as the ‘Official Banking Partner’. Read the full press release @ https://www.kotak.com/content/dam/Kotak/about-us/media-press-releases/2022/KMBL_PR_KBC_.pdf The trailer can be seen @ https://www.sonyliv.com/clip/kaun-banega-crorepati-1000180493?watch=true   Two Major Changes have been brought in KBC Season 14: - Change 01) A new padaav at the 15th Question - Dhan Amrit, wherein the contestants are assured of prize money of Rs 75 lakh, to commemorate India's 75 years of Independence. Additionally, the jackpot has been increased to Rs 7.5 crore. 02) Till Season 13, viewers engaging through Play Along had the chance to be on the hotseat at the end of the show, but in Season 14 viewers will get a chance to grace the ho...

  KSEB – 90% Bill Collections via Digital Channels           Kerala State Electricity Board (KSEB) is fast moving towards its goal of maximising its bills collections through digital channels.           Electricity bills in India still move on the Post-Paid mode, rather than pre-Paid mode. These mean electricity bills are generated at predefined intervals. Consumers have a window of 10-15 days to clear the bills generated against their electricity bill account, to avoid disconnection or late penalty charges. LT Consumers have a choice to pay their bills via the Offline Mode or the Online Mode. In the offline mode, cash is the preferred choice. Cash can be deposited at the Utility Companies counters or accredited collection counters including banks / common service centres / state specific common service centres. At the same counters, consumers have a choice to pay through digital...

  Kerala State Electricity Board (KSEB) boost to Bharat Bill Payment Systems (BBPS)           KSEB Is taking multiple steps to boost the BBPS ecosystem.           The objective is simple: Encourage more and more customers to pay through the Online Mode rather the Cash Mode.   This is the Head Line 1 - No more ‘cash counters’; KSEB to proceed with only online bill payment - Jul 23, 2022, 11:53 am IST Read more @ No more ‘cash counters’; KSEB to proceed with only online bill payment @ https://www.eastcoastdaily.in/2022/07/23/no-more-cash-counters-kseb-to-proceed-with-only-online-bill-payment.html   This is the Head Line 2 - KSEB revokes decision on online bill payment - Published: 24th July 2022 06:50 AM Read more @ KSEB revokes decision on online bill payment @ https://www.newindianexpress.com/cities/thiruvananthapuram/2022/jul/24/kseb-revokes-decision-on-online-bill-p...